The high-bandwidth memory (HBM) crunch is finally being noticed by mainstream consumers. It's not just soaring HBM prices; the availability of certain consumer electronics is now being affected.

Valve's popular handheld gaming PC is reportedly out of stock in some regions - an early warning that other consumer electronics may soon face similar disruptions.

"Note: Steam Deck OLED may be out-of-stock intermittently in some regions due to memory and storage shortages. Steam Deck LCD 256GB is no longer in production, and once sold out will no longer be available," a new note Valve added to their sales page, according to tech blog Rock Paper Shotgun's Mark Warren.

The Steam Deck OLED has become one of the first consumer electronic devices to feel the effects of the memory crunch, driven by surging demand for AI data centers. We have warned for months that this moment was coming and recently cited industry insiders urging consumers to bring forward purchases: "If you want to buy any consumer goods, PCs, or smartphones, do it now," because memory chips are becoming scarce.

Related:

Goldman's Allen Chang recently revised his global PC shipment forecast lower for 2026-2028 due to the HBM crunch.

Chang warned clients, "The memory shortage is real and accelerating due to AI infrastructure demand, leaving a significant shortage for the conventional side of the industry. Think smartphones, PCs, and other consumer electronics that require high-bandwidth memory..."

Earlier this month, Goldman analyst Katherine Murphy told clients the memory crunch will likely persist for roughly two years and is "reminiscent of the Covid-19 era" shortages.

Murphy warned it's not just memory chips; she said the entire data center buildout supply chain is becoming increasingly snarled. Read her full note here for a rundown of what's already running tight.